Section 2(c) in The Companies (Second Amendment) Act, 2002
(c)after clause (29), the following clause shall be inserted, namely:-' (29A)" net worth" means the sum total of the paid- up capital and free reserves after deducting the provisions or expenses as may be prescribed. Explanation.- For the purposes of this clause," free reserves" means all reserves created out of the profits and share premium account but does not include reserves created out of revaluation of assets, write back of depreciation provisions and amalgamati n;';
